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Thread: Ap survey: Us income gap is holding back economy

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    Ap survey: Us income gap is holding back economy

    WASHINGTON (AP) The growing gap between the richest Americans and everyone else isn't bad just for individuals.It's hurting the U.S. economy.
    So says a majority of more than three dozen economists surveyed last week by The Associated Press. Their concerns tap into a debate that's intensified as middle-class pay has stagnated while wealthier households have thrived.
    A key source of the economists' concern: Higher pay and outsize stock market gains are flowing mainly to affluent Americans. Yet these households spend less of their money than do low- and middle-income consumers who make up most of the population but whose pay is barely rising.
    "What you want is a broader spending base," says Scott Brown, chief economist at Raymond James, a financial advisory firm. "You want more people spending money."
    Spending by wealthier Americans, given the weight of their dollars, does help drive the economy. But analysts say the economy would be better able to sustain its growth if the riches were more evenly dispersed. For one thing, a plunge in stock prices typically leads wealthier Americans to cut sharply back on their spending.


    A wide gap in pay limits the ability of poorer and middle-income Americans to improve their living standards, the economists say. About 80 percent of stock market wealth is held by the richest 10 percent of Americans. That means the stock market's outsize gains this year have mostly benefited the already affluent.
    Read more @: AP survey: US income gap is holding back economy

    No surprise here. Seems that this trickle down economic theory isnt working at all, also not a surprise.


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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: AP survey: US income gap is holding back economy

    No surprise here. Seems that this trickle down economic theory isnt working at all, also not a surprise.
    The income gap has nothing to do with "trickle down" theory. It has everything to do with the government subsidizing unproductive behavior.

    When you take a low income individual and subsidize their lifestyle it first makes becoming more productive more difficult for the individual and then makes being unproductive more tolerable.

    Someone with two kids under the age of 16 and a part time job paying $20k/yr will, with subsidies, end up with the same "walking around" money as someone else in the same situation unsubsidized making $45k. That means that the person receiving these benefits has to make a 200+% income jump to be able to afford the same lifestyle. The result is that LOTS of people just decide to live with the subsidies and make a few bucks on the side to fill in any gaps they might run into.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by Lutherf View Post
    The income gap has nothing to do with "trickle down" theory. It has everything to do with the government subsidizing unproductive behavior.

    When you take a low income individual and subsidize their lifestyle it first makes becoming more productive more difficult for the individual and then makes being unproductive more tolerable.
    What happened during the 40's, 50's, 60's, and 70's? Had much of the same programs around and was not even close to this giant income gap.


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    Re: Ap survey: Us income gap is holding back economy

    Many of the most substantial subsidies didn't exist in the 40's-70's and where they did they were minimal.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by Lutherf View Post
    Many of the most substantial subsidies didn't exist in the 40's-70's and where they did they were minimal.
    government work programs, SNAP, not to mention the minimum wage was a lot more.. Care to elaborate?


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    Re: Ap survey: Us income gap is holding back economy

    Huh...well...OBVIOUSLY more worthless ****heads should do a better job of preparing themselves for a future and start earning a viable income. Funny how immigrants (legal and illegals) can manage what so many lazy pathetic crippled dependent pets cant.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by Lutherf View Post
    The income gap has nothing to do with "trickle down" theory. It has everything to do with the government subsidizing unproductive behavior.

    When you take a low income individual and subsidize their lifestyle it first makes becoming more productive more difficult for the individual and then makes being unproductive more tolerable.

    Someone with two kids under the age of 16 and a part time job paying $20k/yr will, with subsidies, end up with the same "walking around" money as someone else in the same situation unsubsidized making $45k. That means that the person receiving these benefits has to make a 200+% income jump to be able to afford the same lifestyle. The result is that LOTS of people just decide to live with the subsidies and make a few bucks on the side to fill in any gaps they might run into.
    What a bunch of horse dung, people in general want to be employed and earning a wage. Unemployment insurance injects money into the economy... people receiving benefits spend it immediately.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by TheDemSocialist View Post
    What happened during the 40's, 50's, 60's, and 70's? Had much of the same programs around and was not even close to this giant income gap.
    The government has killed a lot of jobs over the past few years.

    Obamascare is going to kill more.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by pbrauer View Post
    What a bunch of horse dung, people in general want to be employed and earning a wage. Unemployment insurance injects money into the economy... people receiving benefits spend it immediately.
    Why is the economy still in the crapper, then?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Ap survey: Us income gap is holding back economy

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: AP survey: US income gap is holding back economy

    No surprise here. Seems that this trickle down economic theory isnt working at all, also not a surprise.
    This is corporate capitalism at its finest. Trickle down is, at best, a theory of free market. Corporate capitalism is designed to stifle economic movement and to help accumulate wealth into only a very few number of hands.
    You know the time is right to take control, we gotta take offense against the status quo

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